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SENATE JOINT RESOLUTION 20

TH LEGISLATURE

- STATE OF NEW MEXICO -

FIRST SESSION

, 2007

INTRODUCED BY

James G. Taylor

A JOINT RESOLUTION

PROPOSING AN AMENDMENT TO THE CONSTITUTION OF NEW MEXICO TO

REMOVE THE CONSTITUTIONAL PURPOSES FOR WHICH COUNTIES MAY

BORROW MONEY AND TO PROVIDE THAT COUNTIES MAY INCUR DEBT ONLY

FOR THE PURPOSES AUTHORIZED BY LAW.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. It is proposed to amend Article 9, Section 10

of the constitution of New Mexico to read:

"No county shall borrow money except for the [following

]

purposes

[A. erecting, remodeling and making additions to

necessary public buildings;

B. constructing or repairing public roads and

bridges and purchasing capital equipment for such projects;

C. constructing or acquiring a system for

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supplying water, including the acquisition of water and water

rights, necessary real estate or rights-of-way and easements;

D. constructing or acquiring a sewer system,

including the necessary real estate or rights-of-way and

easements;

E. constructing an airport or sanitary landfill,

including the necessary real estate;

F. acquiring necessary real estate for open space,

open space trails and related areas and facilities; or

G. the purchase of books and other library

resources for libraries in the county

] authorized by law.

In such cases, indebtedness shall be incurred only after

the proposition to create [such

] the

debt has been submitted

to the registered voters of the county and approved by a

majority of those voting thereon. No bonds issued for such

purpose shall run for more than fifty years. [Provided,

however, that no money derived from general obligation bonds

issued and sold hereunder shall be used for maintaining

existing buildings and, if so, such bonds shall be invalid.

Section 2. The amendment proposed by this resolution

shall be submitted to the people for their approval or

rejection at the next general election or at any special

election prior to that date that may be called for that

purpose.

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